Hedge fund giant Citadel is continuing its acquisition spree in Brickell, where it plans to build a headquarters building.
The latest purchase sits in between two properties Citadel has already reportedly acquired, potentially connecting the two.
According to the SFBJ, the company’s newest acquisition is a 12-unit apartment building at 1250 and 1260 Brickell Bay Drive, with 5,355 square feet of land.
Citadel paid $20 million – a huge gain compared to the $1.6 million it last sold for in 2004.
Citadel reportedly purchased two adjacent properties in recent months.
The company is said to have paid $286.5 million for the 28-story office tower next door at 1221 Brickell Avenue in June.
Citadel is also said to have paid $363 million for 1201 Brickell Bay Drive in April, where a supertall tower can be built.
The company is currently conducting an international design competition for its new headquarters, Bloomberg reported recently.
The glass office building on the left is 1221 Brickell. The vacant lot on the right is 1201 Brickell Bay Drive. The newly acquired apartment building is just behind the 1221 Brickell parking garage: